Creating a Product and Selling It - The Process of Product Creation

Fact: You need your own product to be really successful. Fact: You have everything you need right to create your own product. Fact: You don't need to buy anymore ebooks on how to create your product.

Lets start with how much money can you actually make from your own product. And let's also discuss what you can charge. And what you can and cannot get away with.

For starters. I would never pay $200 bucks for a one page report on "How Make Money Online." The subject is too broad.

A report is usually given away for free as bait or a teaser. Some reports have been sold for hundreds of dollars.

The average eBook sells online for about $27 bucks. Usually the eBook is packed with info 10-30 pages long. If its longer even better. Most ebooks are filled with affiliate links so people can sell you more of their stuff.

The average video is sold for $27 plus. Skies the limit on videos because you can make them as long as you want and people love watching and learning from videos.

Courses generally sell for a lot more than an average eBook or report.

If I started again today and wanted to create my report. Here is what I would do. And here is what I would charge.

I would brainstorm and create a free report to go a along with an eBook that I had created and give it to people who gave me their email address. Then I would research online and turn that report into an ebook. The easiest way for me is to dictate into an audio recorder and then later transcribe all the audio files onto one ebook. I would keep it very conversational and only edit grammatical errors but not the way I spoke.

This eBook once finished could also be given away for free as a pdf. Or sold as is for $19.95 you can upsell this eBook for $37 bucks by allowing resale rights and master resale rights and or rebranding rights.

If you don't know what any of that is go Google it or search for it in the ezine article world.

Now create a video of your ebook. How you do that is convert your titles for each chapter into power point. Then find a free software that can capture your screen and turn it into a video file. When you push play on power point you simply read your eBook out loud and add some humour to it as well. And maybe make it a bit more detailed than if someone where to just read your ebook. Remember audio files are more valuable than an ebook. And videos are more valuable than an ebook. When your video is completed now you can add it you YouTube and or your website. Now you are starting to be an expert in your field. Many people will not create a video to save their life.

Now you can offer your product for $47-$97 complete with an ebook, audio files, videos, and resale rights to the eBook and videos and audio files and maybe even rebranding rights so people can resell your products as though it was their own.

The next step would be to offer a free workshop on topics covered in your ebook. But it has to be way more detailed. Make sure you videotape the workshop as well. This can be offered as a product later down the road. Now you are an expert. You have your own ebook, video series and workshop all on video. Then I would also transcribe your entire workshop and make offer eBook you can offer your customers.

To go even bigger I would have a 2 or 3 day workshop and make sure and bring all your products to sell. At the end of the workshop have people give testimonies on how powerful the workshop was. Also I would get one of your friends to interview you while you are at the workshop and you can be asked questions about your workshop and about your ebook. You can later offer this as a bonus. Make sure and videotape everything you do from here on in and have every video you shoot transcribed. More products to sell. More product equals more money.

Workshops can be sold for as little as $97 to Thousands of dollars per day per customer.

Lets say you had a 2 day workshop and you charged each person $97 to attend.

If you had 100 people attend the workshop that's $9,700 for two days work plus think of all the products you would sell.

Say you had 3 ebooks for sale at 50% off just for attending the course and everyone bought...

$27 x 3 ebooks $81 at 50% off is $40.50 x 100 people equals $4,050

So in one weekend you've made $13,750

Do this once a month for 10 months. That would equal $137,500 a year. So many extra products do you think you could come up with in a year?

What if you became a guest speaker for someone else at their workshop and were allowed to sell your products there as well?

I know it sound hard to believe but you could be making hundreds of thousands of dollars a year. And we haven't even touched the power of the internet.

Imagine doing webinars, all recorded, phone conferences, Skype, you name it.

The sky literally is the limit.

Now go Brainstorm Your Way to Success!

Shane

How Creating Your Own E-Book Can Boost Your Online Revenue   Repurposing Content For The Web - How To Reuse Your Old Content   Information Product Creation - Use Different Learning Modalities To Reach Your Target Audience   The Top Two Mistakes of First-Time Information Product Developers   How to Create a Three-Dimensional Product   How Gamification Can Turn Businesses Into Winners   

How to Find a Niche Market Worth Creating a Product For

Welcome to Day 1 of my multi-week course on creating and selling your very own product online. I've talked a lot about affiliate marketing and how to get started and why I love it.

There are a lot of affiliate marketers who make more than enough to live on in the 5 and 6 figure income range, but it's the marketers who take that step into product creation who are the ones who are breaking into the 7 figure income level and beyond.

Let's not get ahead of ourselves, though. Today I'm going to talk about step one: how to find a niche market to create a product for.

The other important thing to mention about this series is that it's coinciding with my own product launch which I'll talk about and refer to as this series goes along. The product itself is an informational product, an eBook on songwriting which I've titled "How to Write a Song - The 'No BS' Songwriter's Bible".

The reason I went with songwriting as my niche market is because it's one of my passions and something which I pride myself on being able to do and do well at that. I've been doing it for 10 years now and have achieved some minor success as a musician, so I channeled all of that experience into this eBook.

Note that while my product is an informational product, most of what I'll teach in this series can obviously be applied to any other kind of product whether it's an informational product, some kind of software, or even a physical product.

Now let's take that critical first step by talking about how to find a niche market to create a product for.

Brainstorming Product Ideas

Just like how I recommend you start out in affiliate marketing, I recommend that you focus on niches which you're familiar with.

You likely have something which you've either received a specialized education in or you have a strong passion for. I had the idea for songwriting because it's something which I can do and do well and felt confident that I could write a great deal of information on.

Take what you love then identify the biggest hurdle people have with it. Oftentimes, such as in my case, the problem will be learning whatever your subject is to begin with. With songwriting, the problem is that people don't know how to get started, they try to do it but don't like the quality of what they're writing, or maybe they just have writer's block. These are all things which I cover and solve in my eBook; I really wrote it to be the authority guide on songwriting (without the BS or covering things people already know or could figure out for themselves through common sense).

Identifying Market Demand

The quickest way to identify demand is to do none other than some good old fashioned keyword research.

Now you're going to have to do as I say and not as I do here, because in reality I did not do any research beforehand. I was just eager to write a book on songwriting and didn't check to make sure there was a market for it.

Fortunately I've since done some keyword research and there are a handful of terms getting decent levels of traffic each day, so I'll be doing well if I can secure those search engine positions (fortunately I have a background in online marketing).

Don't be too overwhelmed if when using Market Samurai you find a lot of competing web pages using the keywords you're searching for in their title and other places. A lot of webmasters in these small niche markets don't know the first thing about SEO and won't be too difficult to overtake, so unless you're dealing in the internet marketing or making money online niches, you have a decent chance at ranking.

Knowing how to find a niche market can pay off in spades. Take Earth4Energy, for example. This is an informational product which first launched about 5 years ago. It was once limited to an eBook but which has since blossomed and expanded to also include informational videos.

Still, this is an informational product nonetheless which costs about $50 and which educates you on how to build your own solar cells and windmills from the comfort of your own home and on a budget of roughly $100-$200 using everyday household materials.

Solar cells and windmills are very effective at generating renewable clean electricity to power your home and offset the cost of your electricity bill, potentially saving you a great deal of money each year.

The catch (which the Earth4Energy sales page will remind you of) is that to have these tools professionally built and installed would cost you several thousand dollars, and the appeal of being able to do it yourself very easily and on a budget is very enticing.

Couple that with the ongoing "current event" that our country has been more and more green energy conscious and obsessed in recent years; needless to say this informational product sold like hotcakes and even had a healthy number of imitators and spin offs in the weeks following its launch and success.

It's still one of the affiliate network ClickBank's all-time best-selling products and still generates a great deal of money today. Even I promoted this product when it first came out and made a few sales with it. The product consistently had a gravity well into the hundreds, and if you check out my post on what is ClickBank gravity, you'll recognize that this basically meant that hundreds and just into the thousands of affiliates were making money selling this product.

This just goes to show you how profitable informational products can be and how well they sell if you can identify the right niche and have the right marketing strategy.

Of course there are a whole lot of fizzled out informational products, as well. Just take a look at the ClickBank marketplace and you'll see dozens and hundreds of e-books and other digital products which haven't generated any sales either because the niche had little demand or the products sales page was unattractive and not very compelling and persuasive.

How Creating Your Own E-Book Can Boost Your Online Revenue   Repurposing Content For The Web - How To Reuse Your Old Content   Information Product Creation - Use Different Learning Modalities To Reach Your Target Audience   The Top Two Mistakes of First-Time Information Product Developers   

Challenges to Creating Your Very Own Digital Product

There is no disputing that digital products are enjoying an all-time popularity level. This is because they are convenient to download for the buyer and easy to create and store for the marketer. Products such as eBooks have resurfaced especially because of the advent of digital e-readers like Kindle Fire, Nook, Cruz and iPad. Marketers who design and create these products have been enjoying a great deal of success and will most likely continue doing so for the foreseeable future. But when attempting to create your own digital product, what are the challenges that you must overcome?

Research

So you've decided that other than being an affiliate marketer, you want to create your own product and sell it under your own terms. But where do you start? How do you know what is selling and what is not? Many product-creation beginners get stuck here. After all, there are hundreds of thousands of new digital products out there. Product creation involves ideas, brainstorming, and extensive research in order to know what products are trending and how to get them created and marketed to the right audience.

Writing

There are very few digital products which do not involve their own eBook. Even with videos, an eBook product or a sales page pitch will be required. This may also mean a product review or press release and all this involves writing. Many marketers are not good writers, indeed many of us and this poses a formidable challenge to anyone wanting to generate their own product digitally. Some say that this issue can easily be correctly by simply outsourcing article creation. This is true and has worked for many, but good writers especially those who are reliable are in desperately short supply.

Packaging

A large percentage that is enjoyed by those that have created highly successful digital products has come from packaging. Presentation is extremely important when selling products digitally online. We are living in an age where computers, phones and eReaders are equipped with highly powerful graphics cards which render graphics in stunning color. That means that the average Internet surfer now expects products that are packaged in stunning graphical presentation. If you want to succeed in creating your own product that attracts the masses and causes them to whip out their credit card, you want to make sure that it is visually appealing.

Sales page

This really refers to website development and this is another area where many marketers are not skilled in. Selling your digital products involves putting up a sales page with a compelling sales pitch and then having the actual sales page site created and uploaded.

How Creating Your Own E-Book Can Boost Your Online Revenue   Repurposing Content For The Web - How To Reuse Your Old Content   Information Product Creation - Use Different Learning Modalities To Reach Your Target Audience   The Top Two Mistakes of First-Time Information Product Developers   How Gamification Can Turn Businesses Into Winners